U.S. Job Market , Remains Resilient Despite , Slight Rise in Jobless Claims. ABC News reports that the number of people seeking unemployment benefits in the United States remains at a historically low level but has still ticked up in the last week.
According to a U.S. Labor Department report on April 14, jobless claims rose by 18,000 after nearly reaching the lowest level since 1968 last week.
According to a U.S. Labor Department report on April 14, jobless claims rose by 18,000 after nearly reaching the lowest level since 1968 last week.
ABC News reports that the four-week average also increased from 170,000 to 172,000.
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Claims are still at very low levels, underscoring historically tight labor market conditions, Nancy Vanden Houten, lead U.S. economist at Oxford Economics, via ABC News.
We expect initial claims to remain below (200,000) in the weeks ahead, as employers, who continue to struggle to attract and retain workers, will keep layoffs to a minimum, Nancy Vanden Houten, lead U.S. economist at Oxford Economics, via ABC News.
ABC News reports that weekly applications for unemployment aid have remained consistently below the pre-pandemic level of 225,000.
In 2021, employers added a record 6.7 million jobs and have added an average of 560,000 more per month since 2022 began.
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In April of 2020, the unemployment rate soared to 14.7% amid the COVID-19 recession.
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Now, that number stands, at just 3.6%, almost the lowest it's been in 50 years.
According to ABC News, , there are a record 1.7 job openings, for every individual job-seeking American.
As of April 2, less than , 1.48 million Americans were , collecting unemployment benefits.
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ABC News reports that the U.S. economy and job market continue to show resilience despite , the ongoing pandemic, Russia’s invasion of Ukraine and skyrocketing consumer inflation
